Horticultural Products Inc. reported $545,863 profit in 2023 and declared preferred dividends of $47,200. The following changes in common shares outstanding occurredduring the year. Jan. 1 39,000 common shares were outstanding. Mar. 1 Declared and issued a 30% common share dividend. Aug. 1 Sold 20,000 common shares. Nov. 1Sold 40,000 common shares. Calculate the weighted - average number of common shares outstanding during the year and earnings per share. (Round the "Earnings pershare" answer to 2 decimal places.)

Weighted average outstanding shares - It is the adjusted amount of shares of a company in a…

Answered: Horticultural Products Inc. reported…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 59 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $2,490,300 $2,110,600 Net income 532,000 432,300 Dividends: On preferred stock (7,000) (7,000) On common stock (45,600) (45,600) Retained earnings, December 31 $2,969,700 $2,490,300 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $3,055,050 $2,814,770 Cost of merchandise sold 1,160,700 1,067,840 Gross profit $1,894,350 $1,746,930 Selling expenses $610,240 $744,410 Administrative expenses 519,840 437,200 Total operating expenses $1,130,080 $1,181,610 Income from operations $764,270 $565,320 Other revenue and expense:…
On January 1, the company had 150,000 common shares outstanding. During the year, the following events occurred: March 1: Two-for-one stock split June 1: Issued 45,000 additional shares September 1: 20% stock dividend What was the weighted-average number of shares outstanding for the year?
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc.Comparative Retained Earnings StatementFor the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $3,704,000 $3,264,000 Net income 600,000 550,000 Dividends: On preferred stock (10,000) (10,000) On common stock (100,000) (100,000) Retained earnings, December 31 $4,194,000 $3,704,000 Marshall Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $10,850,000 $10,000,000 Cost of merchandise sold 6,000,000 5,450,000 Gross profit $4,850,000 $4,550,000 Selling expenses $2,170,000 $2,000,000 Administrative expenses 1,627,500 1,500,000 Total operating expenses $3,797,500 $3,500,000 Income from operations $1,052,500 $1,050,000 Other revenue and expense: Other revenue…
In a recent year, the stockholders’ equity section of Aluminum Company of America (Alcoa) showed the following (in alphabetical order): additional paid-in capital $6,101, common stock $925, preferred stock $55, retained earnings $7,428, and treasury stock 2,828.All dollar data are in millions. The preferred stock has 557,740 shares authorized, with a par value of $100 and an annual $3.75 per share cumulative dividend preference. At December 31, 557,649 shares of preferred are issued and 546,024 shares are outstanding. There are 1.8 billion shares of $1 par value common stock authorized, of which 924.6 million are issued and 844.8 million are outstanding at December 31. Instructions: Prepare the stockholders’ equity section, including disclosure of all relevant data. Equity section MUST be in proper good form which includes proper narration and appropriate indentation (spacing).
EPS Inc. had net income of $8,950,000 in 2xxx. The company had 2, 500, 000 shares of $4 par value common stock and 60,000 shares of 8%, $100 par, preferred stock outstanding throughout the year. Each share of preferred stock is both cumulative and convertible into 3 shares of common stock. Compute the following for 2xxx: (show your work) (a) The number of shares to be used in computing basic earnings per share. (b) The number of shares to be used in computing diluted EPS. (c) Basic earnings per share
Weighted Average Shares At the beginning of the current year, Hardin Company had 20,000 shares of $10 par common stock outstanding. During the year, it engaged in the following transactions related to its common stock, so that at year-end it had 63,800 shares outstanding: Apr. 1 Issued 5,000 shares of stock. June 1 Issued 4,000 shares of stock. July 1 Issued a 10% stock dividend. Sept. 30 Issued a 2-for-1 stock split, reducing the par value to $5 per share. Oct. 1 Reacquired 1,000 shares as treasury stock. Nov. 30 Reissued the 1,000 shares of treasury stock. Required: Determine the weighted average number of shares outstanding for computing the current earnings per share. Round your interim computations and final answer for the number of shares to nearest whole number.
Los Altos, Inc., disclosed the following information in a recent annual report: Year 1 Year 2 Net income $73,500 $123,750 Preferred stock dividends 6,300 6,750 Average common stockholders’ equity 2,700,000 3,150,000 Dividend per common share 2.70 2.52 Earnings per share 3.99 4.61 Market price per common share, year-end 41.00 47.30 Calculate the return on common stockholders’ equity for Los Altos, Inc. for both years.Round to two decimals. Year 1 Year 2 Return on Common Stockholders' Equity Answer Answer Did the return improve from Year 1 to Year 2? Answer
FV Company earned net income of $75,000 during the year ended December 31, 2012. On December 15, FV declared the annual cash dividend on its 5% preferred stock (par value, $115,000) and a $0.50 per share cash dividend on its common stock (55,000 shares). FV then paid the dividends on January 4, 2013. Journalize for FV: Declaring the cash dividends on December 15, 2012. Paying the cash dividends on January 4, 2013.
please provide answer with explanation
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Brewer, Inc. had the following data related to its common shares: Shares outstanding at 1/130,000 2 for 1 stock split at 3/31 Stock issuance at 6/30 1,000 What is the weighted average number of shares Brewer, Inc. should use to calculate its basic earnings per share for the year? 62,000 shares 61,000 shares 60,500 shares 31,000 shares

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